Fri, Jul 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Demand for Change Post-Madoff - Due diligence in a changing economy

Friday, March 08, 2013

This article was provided by Zabrina T Barile and Wendy Toribio-Torres of HedgeOp Compliance, an IMS Group Company (now Cordium).

The Madoff Investment Securities scandal in 2008 prompted significant reforms to the rules and regulations that govern the investment management industry. One of those major reforms includes the Dodd–Frank Wall Street Reform and Consumer Protection Act signed into federal law by President Barack Obama on July 21, 2010. The goal is to increase transparency in the financial system and hold those accountable who do not abide. As the investment management industry continues to evolve and undergo substantial changes, it is clear that there is a need for money managers to build out robust effective infrastructures and conduct thorough due diligence on many levels including investment and risk management, investigative, operational and more.

A number of administrative proceedings, complaints and litigations recently filed have included allegations related to the investment adviser’s due diligence. Asserting proper due diligence could have prevented investments involving Ponzi schemes, insider trading or other serious frauds. Actions have focused on false and misleading statements in the investment adviser’s marketing materials or offering documents based on the level, scope or quality of due diligence. Others have also noted the absence of well-doc......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

  5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

    From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over